Lincolnshire Management invested in Schumacher Electric Corp, which supplies power conversion products to the consumer and global power supply markets. Don Schumacher, founder, will invest alongside Lincolnshire.
Lincolnshire Management, Inc. (“Lincolnshire”), a private equity firm focused on investing in and acquiring growing middle market companies across an array of industries, today announced an investment in Schumacher Electric Corporation (“Schumacher”), a leading supplier of power conversion products to the consumer and professional global power supply markets. Schumacher founder, Don Schumacher, who established the most successful team in National Hot Rod Association (NHRA) history and is a member of the International Motorsports Hall of Fame, has agreed to a major investment in the company, alongside Lincolnshire. Financial terms of the private transaction were not disclosed.
Family-owned throughout its history and headquartered in Mount Prospect, Illinois, Schumacher is a leader in the $23 billion global power supply market, with a particular focus on battery life enhancement, chargers, testers, cables and other power accessories. The company’s products are available through a broad global sales channel from more than 30,000 distribution points, including major big box retailers, specialty aftermarket outlets and online e-commerce platforms.
“Schumacher has deep market penetration and strong production and distribution capabilities, which, combined with its entrenched relationships with top global retailers, provide an impressive platform for growth,” said T.J. Maloney, Chairman and CEO of Lincolnshire Management. “The company’s strong brand recognition within the power category, recent European market expansion, and its research and development capabilities are strategic advantages, and we look forward to building on and enhancing the business’s differentiated capabilities.”
Schumacher addresses a wide spectrum of end-user applications, including recreational vehicles, consumer electronics, power tools and appliances, as well as farming equipment, heavy duty lawn machinery and other vehicles. The company, whose products are manufactured and distributed at facilities strategically located across the U.S., Mexico, Europe, Australia, and China, has also recently launched initiatives in the fast-growing electric vehicle (EV) market, with product introductions expected in 2021.
“I am very excited about this investment by Lincolnshire in the company my family launched more than 70 years ago,” said Schumacher. “We look forward to leveraging the power of their motorsport, aftermarket and performance experience to help us grow, continue to introduce groundbreaking products and enhance our brand presence globally.”
The transaction was led by Lincolnshire Management Managing Directors Philip Kim and Thomas Callahan, and Principal David MacDonald. “This investment is a great addition to our portfolio, and representative of the types of businesses we seek to invest in: family-run, with global growth potential, a strategic supply chain and strong brand equity,” said Kim. “We look forward to working with Don and Schumacher’s executive team to drive the company’s continued expansion, capitalize on its investment in new technology and build on its market leadership,” added Callahan.
Livingstone Partners LLC advised Schumacher on the transaction. Kirkland and Ellis provided legal advice to Lincolnshire Management.
About Lincolnshire Management, Inc.
Lincolnshire Management Inc., founded in 1986, is a private equity firm focused on investing in and acquiring growing middle market companies across an array of industries. Headquartered in New York, Lincolnshire Management invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire Management manages over $1.7 billion of private equity capital. For more information: www.lincolnshiremgmt.com.
About Schumacher Electric Corporation
Since 1947, Schumacher Electric Corporation has been leading change and driving performance to exceed its customers’ expectations. Engineered patent-pending technologies and award-winning marketing makes Schumacher the brand of choice. Schumacher’s legacy is its commitment to quality and exceptional customer service. Schumacher brings experience, innovation and excellence to the next generation of battery maintenance… the #1 name in battery chargers around the world.